Wellington Management Group LLP Reduces Holdings in Perrigo Company plc (NYSE:PRGO)

Wellington Management Group LLP lowered its holdings in Perrigo Company plc (NYSE:PRGO) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,694,446 shares of the company’s stock after selling 3,252 shares during the period. Wellington Management Group LLP owned about 1.97% of Perrigo worth $69,274,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc bought a new stake in shares of Perrigo in the 4th quarter valued at approximately $45,000. GAMMA Investing LLC raised its position in Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Perrigo by 97.8% during the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after acquiring an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Perrigo in the 4th quarter valued at $149,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRGO. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.

Perrigo Stock Down 2.2 %

PRGO opened at $26.31 on Friday. The company’s 50-day moving average price is $26.41 and its two-hundred day moving average price is $26.16. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -22.48 and a beta of 0.49. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. As a group, equities analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.41%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 7th. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.